Seattle area pastor pleads guilty to ponzi scheme

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A Seattle area pastor who defrauded two dozen parishioners out of more than $1.6 million pleaded guilty today in U.S. District Court in Seattle to wire fraud and money laundering, announced U.S. Attorney Jenny A. Durkan. Anthony C. Morris, 48, the pastor of New Covenant Christian Center admitted his fraud was a ‘Ponzi’ scheme where early investors were paid off from the money taken from later investors. Morris is scheduled to be sentenced by U.S. District Judge Richard A. Jones on April 6, 2012.
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tukwilareporter.com/news/137331513.html

This “investing” in the church is a lot more common than people may realize. Mainly among “independent” churches with no oversight.
I know of more than a few myself.
 
“Investing” in the church, like a bank.
Any thoughts on this?
 
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